Manhattan Prosecutors Investigating Binance Over Alleged Iran Sanctions Violations

The US Attorney’s Office in Manhattan is examining whether crypto exchange Binance knowingly permitted trading activity that violated US sanctions on Iran, according to a Bloomberg report citing people familiar with the matter.

Investigation Details

The probe, which also involves the Justice Department’s Criminal Division, builds on an earlier investigation first reported in March. At that time, it was unclear whether the inquiry was focused on Binance itself, its users, or both, with reports indicating officials were examining company records to determine whether Iran had used the platform to bypass US sanctions.

Binance Responds

A spokesperson for Binance said the company maintains a strict policy against sanctions violations and is fully cooperating with law enforcement to identify and shut down bad actors. The company’s statement did not directly confirm awareness of the specific investigation. As with any ongoing probe, the inquiry does not establish wrongdoing, and it remains possible that the investigation could conclude without any charges being filed.